A calculator is a device that carries out numerical arithmetic operations. Addition, subtraction, multiplication, and division are the simplest calculators possible. More advanced calculators can cope with exponential operations and hyperbolic functions, roots, logarithm, trigonometric functions. Calculators are just a tool used by consumers to solve issues. With tedious computation and algebraic manipulation that discourage a large percentage of learners from being eliminated, calculators allow more kids to solve problems and now realize the power and value of mathematics. Due to the outbreak of the COVID-19 pandemic, countries had to enforce lockdown that halted the operations in schools, colleges and business or corporate firms. Due to that, the demand for calculators decreased as there was no requirement for new calculators from the consumers. The calculator market saw a dip in production as sufficient labours were not available to continue the production process. With the increasing price of supply materials, it was difficult for the manufactures to keep the price in check for the final product.
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COVID-19 Impact Analysis
- There was a negative effect on the calculators market from the household and corporate sectors due to the COVID-19 pandemic. The demands for calculators decreased as consumers have shifted their interest towards essential products.
- The e-commerce sector had seen a boost as consumers were purchasing the products through online mediums. For processing and shipping online products, the demand for calculators increased by a little margin as student and corporate employees had a requirement for a calculator to carry on their work.
- The market experienced a gap between demand and supply of products due to the insufficient stock of calculators. This gap between demand and supply lead to a delay in time for delivery.
Top Impacting Factors
Calculators are utilized in the IT, banking, financial, accounting, educational, healthcare, government, retail sector, and other industries for work purposes. Market expansion in these areas was quick and led to an enormous potential to expand worldwide at several places. As a result of the numerous established and important player sectors, where the usage of various types of calculators was considerable, is seeing a surge in demand for calculators.
As technology covers the globe, the calculator’s technology remains behind. In addition, technological digitalization has become the growth factor in the global market for calculators. Graphic calculators designed to simultaneously calculate and print the invoice. According to the various calculations and printing calculators which are widely used, particularly in small, medium and large retail sectors. This has provided the industry with potential for expansion, and these trends have had a huge influence on the global calculator market’s growth.
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Market Trends
Business Calculators are in High Demand than Other Types of Calculators Available in the Market
- Like any other calculator, a business calculator operates by offering a stand-alone solution to execute the math operations. There is no need for a computer or a linked device to utilize it, and its functions are business-oriented and financially oriented. The buttons spaced apart at a suitable distance, a button that suits your hand and clear labeling on each button are part of your business calculator search. The battery life is decent and it operates at all angles. Its lightweight, portable, and allows most-used information to be stored in your memory. The features are attracting customers from corporate or business domains to opt for business calculators. Business calculators surely provide an edge over other calculators and are quite fast.
- Adoption of New Technology Implementations in Desktop Calculators
- Technology digitization has made several advances in simple desktop calculators, including an advanced form of graphic computers and desktop computers. In numerous industries, sectors, geographies and business sizes, digitization presented a significant potential for development. Different suppliers offer special application goods for a variety of end-users with many technical advancements and M&A operations. The development of scientific education mostly requires scientific desktop calculators. Moreover, many emerging schools in the U.S. and other European nations have compelled the usage of desktop calculators after eight grades for fundamental arithmetic.
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Key Benefits of the Report
- This study presents the analytical depiction of the calculators industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the calculators’ market share.
- The current market is quantitatively analyzed to highlight the calculators’ market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed calculators market analysis on the basis of competitive intensity and how the competition will take shape in coming years
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